UAE real estate stays optimistic in 2015

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Abu Dhabi’s property firm has estimates that the UAE real estate division will stay appealing in 2015.

UAE real estate stays optimistic 2015in

UAE real estate stays optimistic in 2015

In its market report for 2014, it was stated that residential activity continues to lead Abu Dhabi’s realty market while business in Dubai is enjoying higher consumer confidence. In general, the real estate division maintained the expansion thrust of the past three quarters and moved towards a solid finish for the year 2014.

Government measures to control approximate demand in realty and better control credit development have restructured the business.

There are several aspects pointing to the sustained development of real property in the UAE in 2015 and further than, as well as a rolling population, a strong economy with a complete increase rate of less than 2%, resurgent market buoyancy and more precise regulatory controls on the sector.

Abu Dhabi’s residential section led the local market increase, supported by the decrease in supply as a gauge for landlords to keep lease levels, the elimination of the five% rental cap and the return of government employees residing in other parts of the country to the emirate in observance with new housing guidelines.

Generally, rent prices increased 5% in the mainland and 3% in freehold districts situated at the borders of Abu Dhabi.

In line with the calculations at the beginning of 2014, the UAE’s realty market closed robust due to a flamboyant economy, a rolling residents, sector-related government measures and worldwide certainty in the country’s estate offerings.

Mohamed Dekkak